As a business owner seeking financing, you have no shortage of options to choose from. Fundera and Lendio both offer an easy application process, but Lendio boasts higher approval rates with a wider array of providers. Consider your unique credit profile and the requirements below before deciding.
Term loans, lines of credit, SBA loans, equipment loans, invoice financing, merchant cash advances
Accounts receivable financing, business line of credit, SBA loan, short-term loan, business term loan, business cash advance, equipment financing, commercial financing and more
Interest rates
Varies by lender
Varies by lender
Fees
No fees for applying
No fees for applying
Loan amounts
Varies by lender
Varies by lender
Turnaround time
1 business day for short-term loan options and lines of credit
3–7 business days for medium-term loan options
As soon as 1 business day
Eligibility requirements
US citizen or permanent green card holder
Must have a revenue-generating business, revenue requirements vary by lender
Bank statements, personal credit score, business credit score, P&L statements and more
US citizen or permanent green card holder
Must have a revenue-generating business
Bank statements and other supporting documents
Operate business in US or Canada for 6 months or more
Have a business bank account, 520 personal credit score
At least $8,000 in monthly revenue
Ratings
BBB star rating: A+
Trustpilot rating: 4.7
BBB star rating: A+
Trustpilot rating: 4.6
State availability
Available in all states
Available in all states
Pros
Funding advisor to guide you through different loans
Faster turnaround times than banks
No fees as Fundera gets a cut from a financial provider in the end
Both Fundera and Lendio are highly reputable lending marketplaces with a similar suite of loan products offered, as well as quick funding time. However, Lendio may be a stronger contender for borrowers looking for a wider selection of options with its network of 75+ lenders. And, if you think you may have difficulty qualifying for a business loan, Lendio’s wider network could offer a better chance of finding a lender willing to work with you.
Revenue flexibility. Fundera’s application requires you to take only the average of the last few months of revenue.
Helpful resources. Fundera’s website breaks down loans best suited for women-owned businesses, those with bad credit and more.
When to consider Lendio
Lendio may be the best option for borrowers who need:
More options. Lendio’s platform has more than 75 lenders on offer.
Larger track record. Lendio has approved $10 billion in loans versus Fundera’s $2.5 billion.
No set business lifespan requirement. You do not have to be in business for years before applying for a small business loan with Lendio’s partners. However, most loans require at least 6 months in business.
The similarities
Fundera and Lendio are similar in that they allow borrowers to compare SBA loans, equipment loans, lines of credit and startup loans, among many others, to help customers make a well-informed decision.
Both lenders are highly rated by the Better Business Bureau as well as by consumers on Trustpilot. For borrowers who seek extra support during the application process, both platforms offer staff to guide consumers to the right products based on their business needs. They each also offer quick turnaround times for funding.
Compare other business loans
Compare up to four lenders side-by-side to see how they stack up.
We currently don't have that product, but here are others to consider:
Looking for other options? Check out these similar products.
How we picked these
What is the Finder Score?
The Finder Score crunches 12+ types of business loans across 35+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.
To provide a Score, we compare like-for-like loans. So if you're comparing the best business loans for startups loans, you can see how each business loan stacks up against other business loans with the same borrower type, rate type and repayment type.
Dhara Singh was a freelance personal finance writer at Finder specializing in loans. Formerly she was a top 10 journalist at Yahoo Finance with more than 38+ million content views where she covered retirement and mortgages. She has also written for Bankrate, and CNET and continues to write for a variety of outlets, such as Investopedia and Worth magazine. Her articles focus on equipping readers with the right information and data so they can make the most informed decisions related to their finances.
Dhara previously worked as an insights analyst for Finder’s PR team, where she started the Deadliest Cities to Drive series in 2018, connecting interesting data analysis to a suite of car insurance products. When she’s not writing, Dhara coaches small business owners through her Stories to Sales programs and empowers them to use their life experiences to help other people. She has also self-published a poetry book on Amazon called Tell her She’s Lovely.
Dhara holds a B.S. in Finance and Supply Chain Management from Rutgers University and a M.S. in Journalism from Columbia University.
See full bio
Compare the best business cash flow loans in 2023.
Advertiser disclosure
Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which Finder receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
